Segment
Risk Management
Businesses not prepared for global water shortage: Marsh
September 6, 2007 by Canadian UnderwriterThe worlds largest businesses are not prepared for the effects of a looming water shortage, according to research sponsored by the newly-established Marsh Center for Risk Insights.Marsh Inc., a global insurance broker and risk advisor, formed the Marsh Center for…
Guy Carpenter develops new way to model cargo accumulation
September 6, 2007 by Canadian UnderwriterGuy Carpenter & Company, LLC, a global risk and reinsurance specialist, has formed a specialized project team to identify a more scientific and practical approach to cargo accumulation modeling.The new team, comprised of experienced analysts from the firms Instrat unit,…
The Co-operators plans expansion in Quebec
September 5, 2007 by Canadian UnderwriterThe Co-operators is preparing for significant expansion in the province of Quebec. Today, the co-operative financial services organization announced the appointment of Martin-Eric Tremblay as senior vice-president of Co-operators Group Ltd. and president, Quebec Operations, the company announced in a…
What’s New: In Brief (September 05, 2007)
September 5, 2007 by Canadian UnderwriterEQUECAT, Inc., a subsidiary of ABSG Consulting Inc. is warning that a category 5 storm with a track through the heart of the Gulf of Mexico U.S. offshore energy platforms could generate producer damage and loss of more than $65…
Benfield creates division dedicated to non-traditional risk transfer
September 4, 2007 by Canadian UnderwriterBenfield has launched a new division within Benfield Advisory, for all forms of non-traditional risk transfer solutions, including sidecars, cat bonds, industry loss warranties (ILWs), collaterized reinsurance and other indexed linked securities.With the convergence of the capital and reinsurance markets…
Hurricanes churning as forecasters maintain predictions for a season of high activity
September 4, 2007 by Canadian UnderwriterAs Hurricane Felix slammed into Nicaragua and Hurricane Henriette barrels towards Mexico, researchers at Colorado State University (CSU) maintain their prediction of above average activity for the remainder of the hurricane season.<br>Hurricane Felix made landfall with maximum sustained winds of…
What’s New: In Brief (September 04, 2007)
September 4, 2007 by Canadian UnderwriterXL Insurance, the global insurance operations of XL Capital Ltd., announced the increase of its underwriting capacity for construction projects, boosting its available capacity from $40 million to $100 million per project, according to a release. Like many industries, the…
Lack of underwriting discipline in commercial P&C industry: CIAB survey
August 28, 2007 by Canadian UnderwriterCommercial property-casualty insurance rates continued their free-fall during 2007 Q2 in a marketplace environment described as totally unpredictable in terms of pricing and underwriting, according to a commercial market index survey by U.S.s Council of Insurance Agents & Brokers (CIAB).…
Narrowing supply chains create business continuity risks
August 24, 2007 by Canadian UnderwriterBusiness continuity risks are heightened as global manufacturers cut costs by narrowing the supply chain, making it crucial that risk managers understand the function of each link on the supply chain, warns Lloyds. Traditionally firms cant insure against business interruption…
Subprime mortgage crisis may spark E&O and D&O liabilities
August 23, 2007 by Canadian UnderwriterInsurance companies may be exposed to greater directors and officers liability (D&O) and errors and omissions (E&O) liability claims in the wake of the current subprime mortgage crisis, warns Marsh.Higher interest rates and falling property prices have contributed to rising…
Directors & officers concerned about extra-territorial litigation
August 21, 2007 by Canadian UnderwriterNew developments in extra-territorial jurisdiction, stock options backdating and claims against European companies are becoming major areas of concern for company directors, according to a recent publication of Willis Group Holdings. The Willis Boardroom Guide 2007 is published by the…
Aviva’s profits hit by UK floods
August 14, 2007 by Canadian UnderwriterAviva PLC reported a hearty 25% increase in worldwide sales to 19.294 billion [approximately Cdn$41.14 billion] throughout the first six months of 2007.Its North American operations reported profits of 70 million [approximately Cdn$149.28 million], an Aviva statement says.Using 2007 exchange…